VAT & withholding tax
Tax figures you can file from.
VAT is calculated on each sale and each purchase as it is recorded, and withholding tax is deducted as you pay suppliers. At month end the working is already done: output, input, net payable and the WHT schedule.
VAT is off by default and switched on per business
What it handles
Recorded at the moment of sale, not reconstructed later
Output VAT on sales
Inclusive VAT calculated per line on every sale and credit sale, with tax-exempt products excluded.
Input VAT on purchases
VAT on deliveries is kept out of stock cost and held as recoverable tax.
Monthly VAT working
Output, input and net VAT payable for each month. A credit carries forward rather than disappearing.
Withholding tax
WHT deducted on supplier payments, posted to WHT payable and listed on a schedule.
Tax payments in the books
Record VAT and WHT remittances as payments, so the balance sheet shows what is still owed.
Receipts that show the VAT
Till receipts show the VAT portion and mark exempt items.
Good to know
What Stockwaka does not do for you
It prepares; you file
Stockwaka gives you the VAT working and the WHT schedule. Filing with the tax authority is done by you or your accountant.
No e-invoicing connection yet
Invoices are not yet submitted to a government e-invoicing system.
FAQ
Questions people ask
Does Stockwaka calculate VAT automatically?
Yes. When VAT is switched on, the VAT portion of each sale and purchase is calculated and stored as it happens, and exempt products are excluded.
Does Stockwaka file my VAT return?
No. It prepares the monthly working — output, input and net payable — for you or your accountant to file.
Can I deduct withholding tax on supplier payments?
Yes. WHT is deducted when you pay a supplier and listed on the WHT schedule.
See it on your own numbers.
Book a demo and we will walk through your stock, your branches and your books — or start free and set it up yourself.